Proof – Ready to Launch Public ICOs after Raise $1 million from Pre-sale


Proof platform, a diverse financial asset marketplace that leverages blockchain technology to track ownership record of market participants, will be ready to launch the public ICOs on the first November, 2017. The platform has succeed to raise for $1.7 million on the pre-sale already.

The platform inform that the first purchase for the pre-sale token was made by TaaS (Token as a Services) that contributed for 884 Ether with the price about $260,000 as it written on in August 16, 2017. A day before in August 15, TaaS itself had publish their investment at Medium.

What makes it sense about the platform has reaching the pre-sale goals is because the platform create their diverse ecosystem to be able to integrate blockchain technology. Within Proof platform, there are various Proof Suite with a blockchain based tools to empower the new businesses and serving investors and token holders.

Some useful tools inside the platform, the flagship tool and the Proof Dashboard, will use as a user’s portal to allowing them to create cryptoassets that backed by real assets, and also allow them to trade them easily. Proof also provides an easy way to use legal agreement generator, website generator tools for token creation and sales.

By Proof platform, all asset records will be stored on various decentralized blockchain, even if there are areas of centralization in which the platform will then convert them by decentralized processes. The main processes to be convert into decentralized are how Curation of featured investment or ICOs based on the trustworthiness of the issuers, creditworthiness and reputation scores, holding up the fiat currency such ass USD and Euros, and fiat currency conversion into cryptocurrency.

For the first processes, Proof will implementing Assurance Market Protocol (AMP), as a transitioning the curation process from centralized process into decentralized. Within Proof Dashboard, list of asset were limited number, the featured asset in the first page will be shown that the platform has validated owner’s asset and ability to ensure their investment, and these part was a centralized process.

Assurance Market Protocol was consist of decentralized marketplace, insurance facilitation with token smart contract utilizing the Event Verification and Standards Settlement (EVS), temper-proof credibility scoring, crowdsourced investment, able to validating ownership claims, legality, asset management competence, and issuer realibility.

The underlying asset could be a real commodity such as real estate asset or any other financial instrument. AMP interaction in the platform makes the possibility for the token issuer as the owner of the asset and tokenizes to attaching a legal agreement hash to a smart contract. All of these will be done and operating inside the Proof Dashboard, owners of the token issuer allow to issuing token smart contract backed by the real asset, and able to trade the fractional ownership as cryptocurrency.

The protocol also consist of prediction market so that the speculators could stake the token holder would not recoup the investment. What the platform change into decentralized process is by crowd sources and give an incentive for the analysts about the asset risk.

The main part for the AMP is Event Validation & Settlement Smart Contract (EVS). The validation use method calls and oracles to determining token contract and properties. EVS give rights the handshake process of the insurance funds (might be in Ether or crypto tokens). EVS will allow to a prediction market by a speculator to stakes their funds in the event of predefined positive investment outcome. The stakes for the prediction market will be proven by the speculator currency deposit into a particular validated EVS token smart contract. And the last things, EVS allow to submit reputation scores in the creditworthiness based on payout event by the token issuer.

To makes the AMP more powerfull, the platform also using The Crypto-Fiat Smart Contract. Since AMP was function to be a global exchange, it proposed to drive truly decentralized trades. The Crypto-Fiat Smart Contract inside the AMP by using smart contract will allow to manage, issue, and exchange tokens pegged in the USD or Euro. The output for the AMP exchange is to gain more adoption, since its possibility to resolve with a stable stores of value. To implement these process, Crypto-Fiat Smart Contract will be used two types of stored value, within Crypto-Euro (C-Euro) and Crypto-USD (C-USD).

The next question will be how the platform will handle its volatility? The platform will be used Volatility Protection inside The Crypto-Fiat Smart Contract. The main reason is, since it was not rely on trust centralized institution, then in the worst-case such as when all the participants will recoup the majority currency they got, it doesn’t take into consideration the protection designed to maintain the peg. The volatility protection will include the initial seed in the reserves. If there is an initial seed provided by receiving 0.5% from the Crypto-Fiat purchases, then it’s possible to handle in the worst case scenario to protect against volatility.

Overall, Proof platform with the global AMP market will be grow and reach their mass adoption. Financial market considering the use of blockchain technology as the backbone is a needs.

Proof Token Crowdsale Detail                                  

Token Name: Proof token
Token Symbol: PRFT
Token Base: Ethereum ERC20
Total Supply: 2,362,062 PRFT
Token Sale Start: November 1, 2017
Price: 1 PRFT= 0.088 ETH                                                                  
WebsiteWhitepaperJoin Pre-sale


(User UID: ICO Magazine)

Leave a Comment